Celegne "market outperform"

04/05/07 - Rodman & Renshaw

NEW YORK, April 5 (newratings.com) - Analyst Michael G King Jr of Rodman & Renshaw reiterates his "market outperform" rating on Celegne Corporation (CELG). The target price is set to $63.

In a research note dated April 4 and published this morning, the analyst mentions that the company has declared that the Eastern Cooperative Oncology Group has reported a survival advantage from the E4A03 trial in multiple myeloma. Further catalysts for Celegne’s revenue acceleration in 2007 include European approval, pricing and the final launch of Revlimid in MDS and myeloma in the EU, the analyst says.